Massive Double-Digit Gains From These Alts as BTC Tapped a 2-Week Peak: Market Watch

Monday’s price correction for BTC didn’t last long as the asset exploded by roughly $10,000 to reach $94,000 earlier today.

The altcoins have performed even more impressively since then, and the total crypto market cap has added around $200 billion since the weekly low.

BTC Soars $10K

The primary cryptocurrency managed to break through $90,000 at the end of the previous business week after it was crushed in mid-November to under $81,000. It peaked at over $93,000 on Friday, where it faced an immediate rejection, but still remained sideways during the weekend at around $91,000-$92,000.

However, the bears returned on Monday in full force. In just a couple of hours, they drove BTC south hard to just under $84,000, which became a 6-day low. After losing $8,000 in hours, bitcoin finally bounced off and jumped to $86,000 yesterday. Then, the bulls really stepped up on the gas pedal and pushed it beyond $90,000 and all the way up to $94,000 on Wednesday morning.

This became BTC’s highest price tag since November 17. Although it has failed to continue upward, bitcoin is still above $93,000 now, showing a 7.5% increase on a 24-hour scale.

Its market capitalization has climbed to $1.860 trillion on CG, while its dominance over the alts stands at 57.4%.

BTCUSD 03.12. Source: TradingView

Alts With Big Gains

When BTC goes hard in either direction, so do most altcoins. This narrative proved correct once again in the past 24 hours. Ethereum skyrocketed past $3,000 and up to $3,070 as of press time after a 9.5% increase. XRP jumped past $2.20 briefly and now sits just below that level after an 8.5% surge.

Even bigger price pumps come from the likes of SOL, DOGE, BCH, ADA, XLM, LINK, HBAR, and LTC, all of which have rocketed by double digits. SUI has stolen the show with a massive 28% surge to $1.73.

The cumulative market cap of all crypto assets has soared by more than $200 billion in a day and is up to $3.240 trillion on CG.

Cryptocurrency Market Overview 03 12. Source: QuantifyCrypto

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